Prime Minister Manmohan Singh will make himself available to the Central Bureau of Investigation in the coal-gate investigation if a formal request is made, Union minister Kamal Nath said on Sunday.
Govt went against its own recommendation of Jun 20, 2007, where along with the 2 Jindal companies, it wanted 40% coal block to go to Lanco.
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.
The Central Bureau of Investigation on Monday questioned former Indian air force Chief S P Tyagi and two others in connection with alleged irregularities in the AgustaWestland helicopter deal.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
The RBI view comes within a fortnight of the sectoral regulator FMC in a report stating that the promoter Shah and promoter company Financial Technologies are not eligible to run the crippled exchange, an order challenged by the group in the Bombay High Court.
The Bad Boy Billionaires series has a lot in common: The three billionaires' hefty ambition, dangerous arrogance and untrammeled power, observes Dhruv Munjal.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
The new Bill is a replacement of the Financial Establishments Bill, 2009, with added provisions relating to search, seizure and attachment of properties of such companies.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
Property of Rs 3,500 crore belonging to the company was seized by the EOW, a police official said.
The CBI said the RJD leader is likely to get involved in political activities and misuse the grant of bail ahead of upcoming Lok Sabha polls.
Banerjee also criticised Dhankhar over his recent visit to North Bengal, claiming a conspiracy was being hatched to divide the region.
Demanding a probe by central regulatory agency into the financial irregularities committed by software company Satyam Computer Services, the Bharatiya Janata Party (BJP) on Friday alleged that a scam of such proportions was not possible without the support of SEBI, MCA, Planning Commission and the Andhra Pradesh government.
'One ticket costs over Rs 300. Which means a family of five pays Rs 1,500, plus the food with one bucket of popcorn at Rs 350, a samosa for Rs 150.' 'Tell me, is it worth it?' asks Subhash K Jha.
'Paying my taxes, diligently repaying my loans, following the rules, scrupulously doing things by the book, when there's this big, beautiful world of unregulated chicanery I could have indulged in for years before just flying off to greener pastures, like Lalit Modi, Vijay Mallya and Nirav Modi,' says Mitali Saran.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
'Around the same time, I watched Rock On!! where those guys have that midlife crisis.' 'They are busy with their corporate jobs and then they want to start singing again.' 'Seeing that, I got a boost.' 'I felt if I don't give acting a full chance again, I will regret it.' 'So I decided to quit my job and pursue acting full time.'
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Former Comptroller Auditor General Vinod Rai has come out with a stinging criticism of former Prime Minister Manmohan Singh saying integrity is not just financial but intellectual and professional too and claimed that Congress leaders had sought to apply pressure on him to keep the PM's name out of audit reports.
The Government today said it has not directed public sector banks to cut exposure in real estate following the housing-finance bribery scam. "No why should we say this," Financial Services Secretary R Gopalan told reporters when asked if the government has given such directions to the state-run banks.
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
The Satyam case is unprecedented in the sense it highlights how a sluggish judicial process has thwarted the efforts of a government authority to attach financial assets of a scam-tainted corporate entity, says Paranjoy Guha Thakurta.
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
The Central Bureau of Investigation raided the office of Kalaignar TV channel in Chennai in the wee hours of Friday. Kalagnar channel, which is backed by the Dravida Munnetra Kazhagam, has been under the scanner for its links with the 2G scam.Officials of the CBI reportedly searched the premises from 12.30 am to 5.30 am. The channel is also facing allegations of money laundering.CBI officials also questioned the senior management of the office.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
'Let the Congress high command decide who will replace Captain Amarinder because they are far wiser than I am.'
The Federal Trade Commission said the defendants used phony debt collection calls from India and bogus claims that they would reduce consumers' credit card interest rates to bilk consumers.
'I have tutored my family and myself to fight hunger,' the former agent for the disgraced Saradha chit fund says, his eyes welling up. 96 of the 107 cases referred to the Serious Fraud Investigation Office are based in Bengal!
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Draped in black shawls, Trinamool Congress MPs on Monday staged a protest outside Parliament House against the arrest of West Bengal minister Madan Mitra in the Saradha chit fund case, accusing the Centre of misusing the Central Bureau of Investigation.
As economic policy making moves from pragmatism to populism, the bulls begin to make way for cautious optimists.
His statement assumes significance in the light of scams in the state-owned banks.
With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
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